Word: investment
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Dates: during 1970-1979
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Their growth prospects evaporated largely because many industries became increasingly outmoded and continued to lose their edge in global competition. America was living off its accumulated capital stock, a consequence of its people's unwillingness or inability to save and invest. While the U.S. spent scarcely 10% of its national income on new factories, mines, tools and transportation systems, its allies and competitors the West Germans and the Japanese were investing 15% and 16.2%, respectively, of their incomes in such capital goods. One result: U.S. productivity, which had risen an average 3% a year in the 1960s, declined...
That may be an exaggeration. The wealthy and the powerful have invested in art from time immemorial, though it is true that the great collections have been amassed by acquisitors possessed of taste and love for the objects they buy. They have not generally been dis couraged by hard times. On the contrary, in recessions and depressions and inflations, the smart ones tend to liquidate stocks, bonds and real estate and thus have all the more cash to invest in other fields. Like art. Given the scar city of beautiful things and the insatiable demand for them, the sales will...
...much as $34 billion by the end of the 1980s. The fund makes major loans to other provinces (at competitive rates), but its main purpose is to bankroll Alberta's economic future. The provincial government has acquired its own Pacific Western Airlines; set up a local company to invest in all forms of energy, including oil from the thick, gummy tar sands; and offers fat incentives to new firms willing to open up in smaller communities...
...want to be a Pewter Pot." He doesn't want to accept orders from the manager of a chain, and he doesn't want the government to take charge of his business, either. "You work hard-hard and you get your money and you got to invest it, man! It's yours...
...adjusting the progressive income tax to create incentives for savings. Instead of simply taxing income, the Federal government could tax income minus savings in a way that equalizes the tax burdens upon the rich and poor. With these incentives, Americans would certainly save more, banks and business would invest more, and ensuing gains in productivity would steadily combat inflation...